S&P 500 Breakout Pulling Back to Old Resistance/New Support

SPCFD:SPX   S&P 500 Index
420 0
The S&P 500 remains in a strong uptrend based on price action. The price has broken out to new highs, but a pullback to old resistance/new support is likely. This could set up a situation similar to 2016.
On the other hand, a continued drop below about 2900 could trigger some panic and result in a larger decline. It is also worth remembering that, at least at the moment, the bull market is mainly focused on a relatively small contingent of large-cap stocks. Small caps, and most stocks listed in the US, aren't in new-high territory.

At the moment, still trading the uptrend and focusing on strong stocks at or new highs.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out